DiamondRock Hospitality Company

Schedule III - Real Estate and Accumulated Depreciation

As of December 31, 2012 (in thousands)



								Costs
				Initial Cost				Capitalized			Gross Amount at End of Year
						Building and		Subsequent to					Building and				Accumulated			Net Book		Year of	Depreciation
Description	Encumbrances			Land		Improvements		Acquisition			Land		Improvements		Total		Depreciation			Value		Acquisition	Life
Atlanta Alpharetta Marriott	—			3,623		33,503		748			3,623		34,251		37,874		(6,435		)	31,439		2005	40 Years
Bethesda Marriott Suites	—			—		45,656		1,672			—		47,328		47,328		(9,443		)	37,885		2004	40 Years
Boston Westin Waterfront	—			—		273,696		16,526			—		290,222		290,222		(42,865		)	247,357		2007	40 Years
Chicago Marriott Downtown	(211,477		)	36,900		347,921		18,573			36,900		366,494		403,394		(61,160		)	342,234		2006	40 Years
Conrad Chicago	—			31,650		76,961		3,413			31,650		80,374		112,024		(12,000		)	100,024		2006	40 Years
Courtyard Denver	—			9,400		36,180		228			9,400		36,408		45,808		(1,329		)	44,479		2011	40 Years
Courtyard Manhattan/Fifth Avenue	(50,173		)	—		34,685		2,441			—		37,126		37,126		(7,417		)	29,709		2004	40 Years
Courtyard Manhattan/Midtown East	(41,933		)	16,500		54,812		2,012			16,500		56,824		73,324		(11,351		)	61,973		2004	40 Years
Frenchman's Reef & Morning Star Marriott Beach Resort	(58,690		)	17,713		50,697		40,206			17,713		90,903		108,616		(11,193		)	97,423		2005	40 Years
Hilton Boston Downtown	—			23,262		128,628		959			23,262		129,587		152,849		(1,491		)	151,358		2012	40 Years
Hilton Burlington	—			9,197		40,644		99			9,197		40,743		49,940		(479		)	49,461		2012	40 Years
Hilton Garden Inn Chelsea/New York City	—			14,800		51,458		373			14,800		51,831		66,631		(2,987		)	63,644		2010	40 Years
Hilton Minneapolis	(96,901		)	—		129,640		449			—		130,089		130,089		(8,253		)	121,836		2010	40 Years
Hotel Rex	—			7,856		21,085		—			7,856		21,085		28,941		(71		)	28,870		2012	40 Years
JW Marriott Denver	(40,761		)	9,200		63,183		17			9,200		63,200		72,400		(2,552		)	69,848		2011	40 Years
Lexington Hotel New York	(170,368		)	92,000		229,368		495			92,000		229,863		321,863		(9,051		)	312,812		2011	40 Years
Los Angeles Airport Marriott	(82,600		)	24,100		83,077		6,912			24,100		89,989		114,089		(16,792		)	97,297		2005	40 Years
Oak Brook Hills Marriott Resort	—			9,500		39,128		(23,397		)	9,500		15,731		25,231		(7,884		)	17,347		2005	40 Years
Orlando Airport Marriott	(57,583		)	9,769		57,803		3,658			9,769		61,461		71,230		(10,737		)	60,493		2005	40 Years
Renaissance Charleston	—			5,900		32,511		23			5,900		32,534		38,434		(1,939		)	36,495		2010	40 Years
Renaissance Worthington	(54,700		)	15,500		63,428		1,246			15,500		64,674		80,174		(12,084		)	68,090		2005	40 Years
Salt Lake City Marriott Downtown	(28,640		)	—		45,815		3,806			855		48,766		49,621		(9,513		)	40,108		2004	40 Years
The Lodge at Sonoma, a Renaissance Resort and Spa	—			3,951		22,720		565			3,951		23,285		27,236		(6,636		)	20,600		2004	40 Years
Torrance Marriott South Bay	—			7,241		48,232		5,517			7,241		53,749		60,990		(10,526		)	50,464		2005	40 Years
Westin San Diego	—			22,902		95,617		—			22,902		95,617		118,519		(1,104		)	117,415		2012	40 Years
Westin Washington, D.C City Center	(74,000		)	24,579		122,229		—			24,579		122,229		146,808		(1,412		)	145,396		2012	40 Years
Vail Marriott Mountain Resort & Spa	—			5,800		52,463		1,816			5,800		54,279		60,079		(10,128		)	49,951		2005	40 Years
Total	$	(967,826	)	$	401,343	$	2,281,140	$	88,357		$	402,198	$	2,368,642	$	2,770,840	$	(276,832	)	$	2,494,008

Notes:

A) The change in total cost of properties for the fiscal years ended December 31, 2012, 2011 and 2010 is as follows:



Balance at December 31, 2009	$	1,900,260
Additions:
Acquisitions	234,309
Capital expenditures	12,631
Adjustments to purchase accounting	5,721

Balance at December 31, 2010	$	2,152,921
Additions:
Acquisitions	439,338
Capital expenditures	31,082

Balance at December 31, 2011	$	2,623,341
Additions:
Acquisitions	495,999
Capital expenditures	12,756
Deductions:
Dispositions and other	(333,545		)
Impairment	(27,711		)

Balance at December 31, 2012	$	2,770,840

B) The change in accumulated depreciation of real estate assets for the fiscal years ended December 31, 2012, 2011 and 2010 is as follows:



Balance at December 31, 2009	$	162,640
Depreciation and amortization	46,101

Balance at December 31, 2010	208,741
Depreciation and amortization	53,518

Balance at December 31, 2011	262,259
Depreciation and amortization	90,893
Dispositions and other	(76,320		)

Balance at December 31, 2012	$	276,832

C) The aggregate cost of properties for Federal income tax purposes (in thousands) is approximately $2,674,881 as of December 31, 2012.